Enterprise Risk Management

Enterprise Risk Management known as (ERM) has evolved a lot since the seventies. From simply ‘buying’ insurance, it has now evolved and grown in importance to become a prime function in many organizations. It is now part of a bigger system known as Governance, Risk and Compliance (GRC) which starts with corporate governance and ends with compliance. ERM is the function of studying the risks that may hinder a corporation’s ability to achieve its goals and then deciding how to overcome these risks. Studies regarding risk management were done by different organizations, including ISO which issued ISO 31000 on risk management. However, the most accepted ERM system is the one designed by ‘COSO’. This system, which is the one covered in this course, teaches the steps needed to control risk. It starts with the evaluation of the internal environment and the setting of objectives which are, mainly, a result of the tone at the top of the organization, the directives from corporate governance as well as the vision, mission and corporate strategies. Then, the course goes through the steps management needs to consider in order to identify and assess risk and decide on proper risk responses and controls. The course ends with how to monitor, communicate and report risk. In addition, the course looks at risk in different organizational areas such as strategy, reporting, compliance, operations, financial or physical risk as well as risk in different industries.

Awarding Body

London Institute of
Business & Technology

Duration

5 Days
25 Hours

Start Date

All Year Around

Study Mode

Classroom OR
Distance Learning

By the end of this programme, the participant will be able to:

  • Identify internal and external changes that will create risks to the organization
  • Understand the relation with the board of directors through governance and improve Risk-Based Decision Making (RBDM)
  • Influence internal controls by choosing the response to the risks identified
  • Classify risk categories in the organization and identify right authorities to manage them
  • Analyze, assess and improve risk management practices within the organization
  • Introduction
    • Risk perception
    • Why should we care about risk
    • Internal environment changes
    • External environment changes
  • Risk management and corporate governance
    • Introduction to corporate governance
    • GRC concept: governance, risk and compliance
    • GRC system: governance, risks and controls
    • Risk management as part of corporate governance
    • Governance failures
    • Risk based decision making
  • Risk management and corporate control environment
    • Risk management’s influence on designing internal controls
    • Risk-Based internal audit assessment of risk management performance
  • ERM and its evolution
    • ERM evolution
    • ERM benefits
    • ERM platform
      • Strategic approach
      • Operations and tactics
      • Business reporting
      • Compliance and process
    • Risk categories
      • Strategic risks
      • Reporting risks
      • Financial risks
      • Physical: life and safety risks
      • Compliance
        • Laws and regulations
        • Financial reporting standards
      • Operations
        • External environment: socioeconomic, regulations, technology and competition
        • Internal environment: structure, processes and culture
      • ERM components
        • Internal environment
        • Objectives setting
        • Event identification
        • Risk assessment:
          • The black swan challenge
          • Quantitative versus qualitative analysis
        • Risk response
        • Control activities
        • Information and communication
        • Risk monitoring

Managers, senior managers, directors, executives, financial controllers, senior accounting and finance personnel, and auditors.

5-day training programme – 1,790 USD

How many students are there in a classroom?

It depends on how many would enroll per intake. Even if the number of students are just 1, we still continue with the training as planned. The maximum number of students we will have in a classroom is 10.

Can I request a date that is convenient for me?

Absolutely! We will arrange the training that is convenient for you. The training date is completely customizable.

Can I change the course content?

Yes, if the contents of the course needs to be changed, please let us know. We will communicate with you and get a course outline that works for you finalized.

Does it matter which industry I work at?

It really doesn’t. We take cases and discuss them to cover your industry. If you need the course to be customized and tailored to your industry, we can also do that. You’d have to let us know in advance by filling out the form below.

(The fees include coffee breaks, study materials and working lunches daily)

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